Internationalization of malaysian smes and the relevance of the un sale convention

Md. Anowar Zahid

Research output: Contribution to journalArticle

Abstract

Aimed at 41% of contribution to GDP and employment growth of 62% by Small and MediumEnterprises (SMEs) by 2020, Malaysian government wants them to trade internationally. In this respect, SMEshave to face a strong legal barrier. They have to choose foreign law as applicable law for their contract.Because, they are not familiar with Foreign Law this creates uncertainties for them which may cost them moneyand time to educate themselves in that law, to understand its application, to negotiate and draft contracts andto have disputes if any, settled. The UN Convention on International Sale of Goods 1980 (CISG) has becomea universal piece of law being ratified by a large number of states including all major trade partners of Malaysiaexcept the UK which is presently considering its ratification. As such, this study argues for Malaysia to becomea member of the convention which will place Malaysian traders on a level playing field with their counterpartsin sale transactions internationally.

Original languageEnglish
Pages (from-to)1234-1236
Number of pages3
JournalInternational Business Management
Volume9
Issue number6
Publication statusPublished - 2015

Fingerprint

Internationalization
Traders
Draft
United Nations
Employment growth
Government
Dispute
GDP growth
Costs
Level playing field
Ratification
Uncertainty
Malaysia

Keywords

  • Barrier
  • Draft
  • GDP
  • Law
  • Sale

ASJC Scopus subject areas

  • Business and International Management
  • Strategy and Management

Cite this

Internationalization of malaysian smes and the relevance of the un sale convention. / Zahid, Md. Anowar.

In: International Business Management, Vol. 9, No. 6, 2015, p. 1234-1236.

Research output: Contribution to journalArticle

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